KBC Group NV Boosts Stock Holdings in STERIS plc (NYSE:STE)

KBC Group NV boosted its holdings in STERIS plc (NYSE:STE - Free Report) by 52.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,071 shares of the medical equipment provider's stock after buying an additional 4,132 shares during the quarter. KBC Group NV's holdings in STERIS were worth $2,928,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the third quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new position in STERIS during the 3rd quarter worth about $28,000. Quent Capital LLC grew its position in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 71 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of STERIS by 2,262.5% in the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider's stock valued at $41,000 after buying an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 116 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Down 1.0 %

Shares of STE stock traded down $2.16 on Monday, reaching $217.96. 372,597 shares of the company were exchanged, compared to its average volume of 492,148. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The company has a 50-day moving average of $230.37 and a 200-day moving average of $228.59. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 50.20 and a beta of 0.85. STERIS plc has a one year low of $195.47 and a one year high of $248.24.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 earnings per share. Analysts anticipate that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.05%. STERIS's payout ratio is 52.05%.

Analyst Ratings Changes

STE has been the topic of several analyst reports. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and upped their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. KeyCorp increased their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Stephens restated an "overweight" rating and issued a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. StockNews.com cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and a consensus price target of $253.00.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at $10,603,710. The trade was a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.14% of the company's stock.

STERIS Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.